Inhibrx Biosciences (NASDAQ:INBX) Hits New 52-Week High - What's Next?

Key Points

• Inhibrx Biosciences shares reached a new 52-week high at $34.78, with a trading volume of over 55,000 shares recently.
• The company reported quarterly earnings of ($1.85) per share, exceeding analysts' expectations by $1.07, with projected annual EPS of 104.88.
• Institutional investors own 82.46% of Inhibrx Biosciences, with significant increases in stakes from several firms over recent quarters.

Shares of Inhibrx Biosciences, Inc. (NASDAQ:INBX - Get Free Report) reached a new 52-week high on Wednesday . The company traded as high as $34.52 and last traded at $34.78, with a volume of 55313 shares traded. The stock had previously closed at $33.68.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on INBX shares. JMP Securities reiterated a "market perform" rating on shares of Inhibrx Biosciences in a research note on Friday, August 22nd. Wall Street Zen raised Inhibrx Biosciences from a "sell" rating to a "hold" rating in a research report on Sunday, August 17th. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the company has an average rating of "Hold".

Inhibrx Biosciences Stock Performance

The business has a 50-day moving average of $25.85 and a two-hundred day moving average of $18.34. The company has a market cap of $490.36 million, a P/E ratio of -3.20 and a beta of 0.33. The company has a debt-to-equity ratio of 1.45, a current ratio of 4.98 and a quick ratio of 4.98.

Inhibrx Biosciences (NASDAQ:INBX - Get Free Report) last issued its quarterly earnings data on Wednesday, August 13th. The company reported ($1.85) earnings per share for the quarter, beating analysts' consensus estimates of ($2.92) by $1.07. The company had revenue of $1.30 million for the quarter. On average, sell-side analysts predict that Inhibrx Biosciences, Inc. will post 104.88 EPS for the current fiscal year.

Institutional Investors Weigh In On Inhibrx Biosciences

Several institutional investors have recently added to or reduced their stakes in the business. HighTower Advisors LLC boosted its holdings in Inhibrx Biosciences by 11.5% in the first quarter. HighTower Advisors LLC now owns 871,754 shares of the company's stock worth $12,196,000 after acquiring an additional 90,002 shares in the last quarter. Sofinnova Investments Inc. boosted its holdings in Inhibrx Biosciences by 1.5% in the second quarter. Sofinnova Investments Inc. now owns 708,678 shares of the company's stock worth $10,113,000 after acquiring an additional 10,762 shares in the last quarter. Woodline Partners LP acquired a new stake in Inhibrx Biosciences in the first quarter worth about $5,015,000. Acadian Asset Management LLC boosted its holdings in Inhibrx Biosciences by 34.2% in the first quarter. Acadian Asset Management LLC now owns 192,498 shares of the company's stock worth $2,689,000 after acquiring an additional 49,023 shares in the last quarter. Finally, Kennedy Capital Management LLC boosted its holdings in Inhibrx Biosciences by 7.5% in the second quarter. Kennedy Capital Management LLC now owns 177,318 shares of the company's stock worth $2,530,000 after acquiring an additional 12,342 shares in the last quarter. Institutional investors and hedge funds own 82.46% of the company's stock.

Inhibrx Biosciences Company Profile

Inhibrx, Inc, a clinical-stage biopharmaceutical company, develops a pipeline of novel biologic therapeutic candidates. The company's therapeutic candidate includes INBRX-101, an alpha-1 antitrypsin (AAT)-Fc fusion protein therapeutic candidate, which is in Phase 1 clinical trials for use in the treatment of patients with AAT deficiency.

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